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ON ATIKU'S FRAUDULENT CAMPAIGN TO RETURN PETROL SUBSIDIES: FYI, Buhari's government didn't pay petrol subsidies to any fuel importer throughout his 8yrs government. The only subsidy he paid from 2015 into 2016 were the verified amounts owed to importers from GEJ's government. The kind of subsidies in his government is akin to what the crooked and desperate Atiku is proposing today with the difference that the refineries were abroad and NNPC had to be receiving and solely importing the products from the refineries they sent the crude to in swap arrangements. This was christened DSDP and under recovery. Still, the conversation around subsidies in terms of fraud and most importantly how it held up funds meant for the federation account never went away. It got to an extent that NNPC was no longer remitting any money to the account as all were used up as subsidies on petrol. The real issue with subsidy in Buhari's government was less of subsidy fraud and more of unsustainability due to the fact that almost all revenues due from NNPC to the federation account were being expended on petrol subsidies. There is no style of petroleum subsidy that will not be abused in Nigeria and which will not lead us into further unsustainable debts and another distortion in the oil and gas industry that's gradually coming back to full production as the IOCs have regained their lost confidence and have started investing massively again like they were doing several years ago. You know this, we all know this. Lastly, the maxim that Nigeria is a rich country because of a 1.6m barrels of daily crude oil is grossly offensive as the opposite is absolutely the case due to our bloated population. Rich oil countries have far more barrels of daily oil production with very little population. You cannot be possibly calling yourself an oil rich country with 1.6mbbls/day and a 250m population. If an ignorant and uneducated Atiku can say that, you with your education should be able to know there's something called per capita oil production. Nigeria's total yearly oil and tax revenues is not even up to a third of South Africa's yearly revenues yet we're 4x the population of South Africa. Atiku Abubakar is just a desperate crook and Nigerians cannot afford to gamble with him at this point of our lives. It'll amount to one step forward and 100 steps backward. Selah
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